The Political Economy of Competition Law in Asia

The Political Economy of Competition Law in Asia

Edited by Mark Williams

This detailed book describes and analyses the essential political economy features that provide the backdrop to the competition policies and competition law regimes of several of the most important Asian economies.

Chapter 13: Conclusion

Mark Williams

Subjects: asian studies, asian law, law - academic, asian law, competition and antitrust law

Extract

Any attempt to comprehensively summarize the content of this book is an all but impossible task given the very substantial differences between the nations discussed, and so this chapter will not try to do so. In considering the current position of the competition policy environment in each of the countries discussed, it is interesting to note the variety of reasons for competition policy adoption. Some countries adopted as a result of endogenous choice, perhaps due to the advocacy of academic or political figures that reflected the notion that, in an increasingly globalized economic system, retaining an isolated and inward-looking domestic economy was simply no longer viable. Australia is an obvious example of this phenomenon. Adopting or strengthening an existing competition regime to assist the restructuring of the domestic economy is another circumstance that can promote reform. India might fall into this category. Often such a policy choice is a parallel development to the liberalization of an external trade regime. Pro-competition measures sometimes follow from bilateral trade agreements, as was the case in Singapore, or because of regional trade agreements as in ASEAN, where this provided a major impetus for both Malaysia and the Philippines to act. Application for membership of the World Trade Organization (WTO) and an attempt to attract foreign investment appear to have been incentives for Vietnam and also perhaps for China, though adoption was not a requirement of WTO membership.

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